Personal Tax Cuts
From 1 July 2026, personal income tax rates will change. On the last sitting day of Parliament, the personal income tax rate reduction announced in…
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Author: adam galea
FBT 2025: What you need to know
The Fringe Benefits Tax (FBT) year ends on 31 March. We’ve outlined the hot spots for employers and employees. FBT exemption for electric cars Employers…
Why the ATO is targeting babyboomer wealth
“Succession planning, and the tax risks associated with it, is our number one focus in 2025. In recent years we’ve observed an increase in reorganisations…
The top Christmas party questions
What can I do to make the staff Christmas party tax deductible or tax-free? Not have one? Ok, seriously, it’s likely that you will pay…
What makes or breaks Christmas?
The cost of living has eased over the past year, but consumers are still under pressure. For business, planning is the key to managing Christmas…
The Ban on Genetic Test Insurance Discrimination
The ability for life insurers to discriminate based on adverse predictive genetic test results will be banned under a new Government proposal. Predictive genetic tests…
It wasn’t me: The tax fraud scam
You login to your myGov account to find that your activity statements for the last 12 months have been amended and GST credits of $100k…
When is a Gift not a Gift? Avoiding the Gift Tax Trap
The Tax Commissioner has successfully argued that more than $1.6m deposited in a couple’s bank account was assessable income, not a gift or a loan…
What’s ahead for FY 2024-25?
Will 2024-25 be another year of volatility or a return to stability? Here’s what you can expect in the new financial year as a business…
The Essential June 30 Guide
The end of the financial year is fast approaching. Here are the areas at risk of increased ATO scrutiny and the opportunities to maximise your…